Gables Developments??

ATXboom · #1 Posted **Jul 23, 2007, 6:28 PM**

Does anyone know why Gables has delayed so long on the Park Plaza development at Lamar? It seems they had initial design done before the building boom started... they are missing their great timing position they had!

Also - they made the purchase of the Fox n Hound site as well? Has that closed? I wonder why they would buy more property when they haven't started anything at their old site they have invested in?

I know most of their property is in South Florida... I am wondering if they are tight on funds due to the crash there locally??

JAM · #2 Posted **Jul 23, 2007, 6:41 PM**

When Gables announced, they went thru quite a bit of work to get some variances (if I remember correctly). Some of them were very difficult to negotiate at the time. If they had tried today, they might have not had such a difficult time. Some people were saying that the Gables property was going to create a cavern over Town Lake. Maybe they are considering going back to the table with additional variances. Just thought I would throw that idea out, I really have no clue.

GoldenBoot · #3 Posted **Jul 24, 2007, 4:28 AM**

All of the zonging changes have been in place for some time. There are, at this point, no variances needed. Also, the developers of the Gables at Park Plaza submitted their site plan to the city four weeks ago. The site plan approval process may take up to three or four months. Once approved, they may then apply for building permits. If all goes well, we might see ground being turned late this year or early 2008.